What is a major medical policy?

The Bankrate.com financial term of the day is: "major medical policy."
Let's say you're in good health, don't want to pay a lot for health insurance but do want coverage that would protect you from huge medical bills that could wipe out your bank account if you're in an accident or come down with a serious illness. What you're looking for is a major medical policy, sometimes called a catastrophic policy. These policies typically come with low premiums and a high deductible, meaning you're responsible for hundreds or even thousands of dollars' worth of the expenses before the insurance kicks in. Once it does, you can rest assured that you'll be covered up to a high limit.

A major medical policy is affordable health insurance that's mainly there to take care of the big stuff.

To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.

Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.

While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.
... Read more

Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on certain links posted on this website.